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NZD/USD Price Forecast: Holds onto Tuesday’s gains amid risk-on mood
The New Zealand Dollar (NZD) clings to Tuesday’s gains around 0.5820 during the European trading session on Wednesday. The Kiwi pair reflects strength in a risk-on market environment, driven by easing fears of Federal Reserve (Fed) interest rate hikes this year.
Fxstreet
Wed, Jul 15
Canadian Dollar: BoC caution limits CAD losses against US Dollar – MUFG
MUFG’s Derek Halpenny reports that the Canadian Dollar (CAD) has benefited from weaker United States (US) Consumer Price Index (CPI) and higher Oil prices, with spreads pointing to modest further gains versus the US Dollar (USD).Fxstreet
Wed, Jul 15
British Pound: Modest UK growth and Bailey’s cautious stance – TD Securities
TD Securities projects UK GDP to grow 0.1% month-on-month in May, led by services and strong retail sales, while manufacturing and industrial output remain under pressure from Middle East-related headwinds and higher input costs.
Fxstreet
Wed, Jul 15
Eurozone Industrial Production unexpectedly declines 0.2% in May
The Eurozone industrial sector activity declines by 0.2% in May, while it was expected to rise at the same pace, according to data published by Eurostat. In April, the Industrial Production data rose by 0.3%, revised higher from 0.1%.Fxstreet
Wed, Jul 15
Japanese Yen hesitates near 40-year lows as Iran war, Oil prices hold bulls
The Japanese Yen (JPY) struggles in the lower range of the 162.00s against the US Dollar (USD) on Wednesday, not far from the 40-year lows, at 162.85. Rising geopolitical tensions and higher Oil prices offset the positive impact of the soft US consumer inflation data released on Tuesday.
Fxstreet
Wed, Jul 15
USD/CAD Price Forecast: Reaches nearly monthly lows below 1.4050
USD/CAD remains subdued after registering modest losses in the previous day, trading around 1.4050 during the European hours on Wednesday. The technical analysis of the daily chart indicates the pair is testing the lower boundary of the symmetrical triangle.Fxstreet
Wed, Jul 15
Japanese Yen: Mixed outlook within 160.60–163.00 band against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann report USD/JPY fluctuated between 161.62 and 162.47, closing slightly lower at 162.23 after failing to test 162.70. Intraday, the pair is seen trading between 161.75 and 162.50.Fxstreet
Wed, Jul 15
GBP/USD Price Forecast: Soft US CPI data backs upside towards 1.3500
The British Pound (GBP) is up 0.1% at around 1.3403 against the US Dollar (USD) during the European trading session on Wednesday. The GBP/USD pair gains as the US Dollar comes under selling pressure, with market participants dialing down expectations for Federal Reserve (Fed) interest rate hikes.Fxstreet
Wed, Jul 15
Canadian Dollar: BoC seen steady as Oil supports CAD – ING
ING’s Francesco Pesole expects the Bank of Canada to keep rates at 2.25%, with limited incentive to push back against modest December tightening pricing. He sees June CPI potentially falling below 3.0% as petrol prices drop, while core remains near 2.0%.Fxstreet
Wed, Jul 15
Australian Dollar: Upside momentum building toward 0.7015 against US Dollar – UOB
United Overseas Bank’s Quek Ser Leang and Lee Sue Ann note AUD/USD surged to 0.6992 after an earlier dip, with strong short-term momentum pointing to further gains. They see scope for a test of 0.6995, while the major resistance at 0.7015 is key.
Fxstreet
Wed, Jul 15
New Zealand Dollar: RBNZ hawkish tone supports gains – OCBC
OCBC’s Sim Moh Siong and Christopher Wong highlight that the New Zealand Dollar (NZD) continues to outperform G10 peers, underpinned by hawkish Reserve Bank of New Zealand (RBNZ) rhetoric and improving domestic activity data.Fxstreet
Wed, Jul 15
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